Janux Therapeutics Reports First Quarter 2026 Financial Results and Business Highlights
JANX
JANX007 continues to enroll in its Phase 1b taxane-naïve patient population, including combination cohorts with darolutamide Initiated clinical evaluation of JANX014, a double-masked PSMA-TRACTr candidate JANX011 Phase 1 study ongoing in healthy volunteers Discontinued development of JANX008 following completion of Phase 1a Achieved development candidate nomination under Bristol Myers Squibb collaboration, triggering milestone payment Strong cash position supporting continued pipeline execution
Published on 05/07/2026 at 04:03 pm EDT
Janux Therapeutics, Inc. (Nasdaq: JANX) (Janux), a clinical-stage biopharmaceutical company developing a broad pipeline of novel immunotherapies, today reported financial results for the quarter ended March 31, 2026, and provided a business update.
"Our commitment to advancing a prostate cancer franchise is demonstrated by our continued progress with JANX007, clinical initiation of JANX014, and advancement of JANX013 toward the clinic,” said David Campbell, Ph.D., President and CEO of Janux. “Our ongoing clinical study with JANX011 has been designed to support our emerging autoimmune disease opportunity.”
BUSINESS HIGHLIGHTS AND RECENT DEVELOPMENTS:
Clinical & Pipeline Progress
Strategic Collaborations
Corporate & Leadership
Upcoming Milestones
FIRST QUARTER 2026 FINANCIAL RESULTS:
About Janux Therapeutics
Janux is a clinical-stage biopharmaceutical company developing a broad pipeline of novel immunotherapies by applying its proprietary technology to its Tumor Activated T Cell Engager (TRACTr), Tumor Activated Immunomodulator (TRACIr), and Adaptive Immune Response Modulator (ARM) platforms.
Janux’s lead clinical candidate, JANX007, is a PSMA-targeted TRACTr being investigated in a Phase 1 clinical trial in patients with metastatic castration-resistant prostate cancer (mCRPC). The Company is also advancing additional PSMA-targeted programs, including JANX014, a double-masked PSMA TRACTr being evaluated in a Phase 1 clinical trial, and JANX013, a CD28 co-stimulatory TRACIr designed for combination with JANX007.
Beyond its prostate cancer programs, Janux’s pipeline includes JANX011, a CD19-targeted ARM being evaluated in a Phase 1 clinical trial in healthy adult volunteers for potential treatment of autoimmune diseases. Janux continues to generate additional TRACTr, TRACIr, and ARM programs for potential future development.
For more information, please visit www.januxrx.com and follow us on LinkedIn.
Forward-Looking Statements
This news release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements include statements regarding, among other things, Janux’s ability to bring new treatments to cancer patients in need, expectations regarding the timing, scope and results of Janux’s development activities, including its ongoing and planned preclinical studies and clinical trials, and the potential benefits of Janux’s product candidates and platform technologies, expectations regarding the use of Janux’s platform technologies to generate novel product candidates and the strength of Janux’s balance sheet and the adequacy of cash on hand. Factors that may cause actual results to differ materially include the risk that interim results of a clinical trial are not necessarily indicative of final results and one or more of the clinical outcomes may materially change as patient enrollment continues, following more comprehensive reviews of the data and as more patient data becomes available, including the risk that unconfirmed responses may not ultimately result in confirmed responses to treatment after follow-up evaluations, the risk that compounds that appear promising in early research do not demonstrate safety and/or efficacy in later preclinical studies or clinical trials, the risk that Janux may not obtain approval to market its product candidates, uncertainties associated with performing clinical trials, regulatory filings and applications, risks associated with reliance on third parties to successfully conduct clinical trials, the risks associated with reliance on outside financing to meet capital requirements, and other risks associated with the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics, and in the endeavor of building a business around such drugs. You are urged to consider statements that include the words “may,” “will,” “would,” “could,” “should,” “believes,” “estimates,” “projects,” “promise,” “potential,” “expects,” “plans,” “anticipates,” “intends,” “continues,” “designed,” “goal,” or the negative of those words or other comparable words to be uncertain and forward-looking. For a further list and description of the risks and uncertainties Janux faces, please refer to Janux’s periodic and other filings with the Securities and Exchange Commission, which are available at www.sec.gov. Such forward-looking statements are current only as of the date they are made, and Janux assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Janux Therapeutics, Inc.
Condensed Balance Sheets
(in thousands)
March 31, 2026
December 31, 2025
Assets
(unaudited)
Current assets:
Cash and cash equivalents
$
51,828
$
52,334
Accounts receivable, net
35,000
—
Short-term investments
904,558
914,233
Prepaid expenses and other current assets
10,663
9,320
Total current assets
1,002,049
975,887
Restricted cash
816
816
Property and equipment, net
3,546
3,852
Operating lease right-of-use assets
17,870
18,402
Other long-term assets
3,944
2,608
Total assets
$
1,028,225
$
1,001,565
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable
$
3,376
$
4,971
Accrued expenses
15,476
17,633
Current portion of deferred revenue
37,591
—
Current portion of operating lease liabilities
2,472
2,393
Total current liabilities
58,915
24,997
Deferred revenue, net of current portion
8,676
—
Operating lease liabilities, net of current portion
19,099
19,746
Total liabilities
86,690
44,743
Total stockholders’ equity
941,535
956,822
Total liabilities and stockholders’ equity
$
1,028,225
$
1,001,565
Janux Therapeutics, Inc.
Unaudited Condensed Statements of Operations and Comprehensive Loss
(in thousands, except share and per share data)
Three Months Ended March 31,
2026
2025
Collaboration revenue
$
3,733
$
—
Operating expenses:
Research and development
26,813
25,055
General and administrative
11,133
9,842
Total operating expenses
37,946
34,897
Loss from operations
(34,213
)
(34,897
)
Total other income
9,852
11,389
Net loss
$
(24,361
)
$
(23,508
)
Other comprehensive gain (loss):
Unrealized gain (loss) on available-for-sale securities, net
(3,740
)
1,593
Comprehensive loss
$
(28,101
)
$
(21,915
)
Net loss per common share, basic and diluted
$
(0.39
)
$
(0.38
)
Weighted-average shares of common stock outstanding, basic and diluted
62,665,717
61,791,721
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